Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
According to the Tiroler Tageszeitung, the three Tyrolean sites of the family-owned business Liebherr cut 150 jobs in 2009 due to losses in turnover of 25%.
The restructuring measures at the Lienz site of Liebherr-Hausgeraete, a manufacturer of freezers and household appliances, were the most prominent. 105 jobs were shed, reducing the workforce from 1,473 to 1,368 employees. Morever, 976 staff members were put on short-time work. Hardest hit by the financial crisis was Liebherr's Telfs site, were crawler tractors and loaders, as well as telesopic loaders are produced. Turnover decreased by 48%, from EUR 163 million to EUR 85 million. Due to short-time working arrangements, only 40 jobs had to be made redundant in Telfs. The third Tyrolean Liebherr establishment, the Interalpen Hotel Buchen, is Tyrol's biggest hotel with 600 beds. Turnover decreased by 14%, however, no restructuring measurements had to be taken in Buchen.
Eurofound (2010), Liebherr, Internal restructuring in Austria, factsheet number 70652, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70652.
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